Some stocks have been noticeably absent from recent highs on Wall Street. The S & P 500 topped the 5,500 level for the first time on Thursday. The index ultimately closed lower, but it's touting a roughly 15% advance in 2024.
The artificial intelligence boom has aided market strength, with de facto leader and AI bellwether Nvidia also reaching a record on Thursday before retreating. However, shares of heavyweight companies including Nike and Starbucks have not fared as well this year. The sneaker manufacturer has slipped about 12% in 2024, while Starbucks has pulled back more than 16%.
Those moves could reverse course, however, according to consensus forecasts from analysts. CNBC Pro screened for S & P 500 laggards poised for a turnaround, abiding by the following criteria: Stocks are negative year-to-date Shares have turned higher over the past month Average analyst price targets imply upside greater than 10% Readers can add and customize this screen using the CNBC Pro Stock Screener tool here . Data in the table below is as of Tuesday.
Starbucks The coffee chain posted sluggish fiscal second-quarter results in late April, noting a stark decline in same-store sales. Starbucks also cut its forward guidance, with executives noting that they expected a slew of soft data to continue to weigh on results moving forward. But the weakness in the coffee giant's stock could present investors with an attractive entry point as Wall Street seemingly resets its expectations, according to .
